Glucotrack completes business combination with Lōkahi Therapeutics

Glucotrack, Inc. (Nasdaq: GCTK) and Lōkahi Therapeutics announced on July 14, 2026 that they had completed a strategic business combination, establishing a publicly listed, capital-efficient platform for the identification, acquisition, and advancement of differentiated healthcare assets.¹ Under the arrangement, Lōkahi Therapeutics becomes the operating and controlling business of the combined company, leveraging Glucotrack's public market platform to support long-term growth and access to capital.¹

At closing, Lōkahi Therapeutics securityholders received a combination of Glucotrack common stock and convertible preferred stock.¹ Upon receipt of required stockholder approvals and satisfaction of applicable Nasdaq listing requirements, the preferred stock is expected to convert into common equity, resulting in Lōkahi Therapeutics securityholders holding approximately 90% of the combined company on a fully diluted basis.¹

Glucotrack's existing device business continues separately. Glucotrack's CBGM business will operate as a wholly owned subsidiary of the combined company, with its operations, assets, and capital structure maintained separately to enable focused execution and strategic flexibility.¹ Erik Emerson has been appointed Chief Executive Officer of the combined company, while Paul Goode will serve as Chief Technical Officer of the combined company and Chief Executive Officer of the CBGM subsidiary.¹

The deal includes financing components. The company covenanted to consummate a private placement offering in an aggregate amount of up to $30,000,000, with gross proceeds of no less than $10,000,000 at an initial closing to occur within 15 days after the Closing.¹ Separately, the Acquiror entered into a securities purchase agreement, dated July 14, 2026, with certain investors, agreeing to issue senior secured convertible promissory notes for gross proceeds of approximately $4.45 million and common stock purchase warrants.¹ Glucotrack also entered into a Common Stock Purchase Agreement with White Lion Capital, LLC, giving it the right to require the investor to purchase up to $50,000,000 of shares over a three-year period.¹